Optional features, available for an additional charge, help you tailor your New Heights IUL policy to meet your specific needs
Long-Term Care Rider II
Some life insurance policies offer long-term care (LTC) riders that work on a reimbursement basis and require you to submit bills and receipts to receive your LTC benefit. With these types of LTC riders, any expenses that don’t qualify under your benefit, will have to be paid out-of-pocket.
The LTC Rider II offered in New Heights® IUL is a cash-indemnity benefit, which means that once your claim is approved, you can:
Use your monthly cash benefit however you want – there’s no need to submit receipts1
Receive care wherever you choose from the caregiver you designate – including at home from family or friends
Additional riders and benefits
Living Access Benefits
Chronic Illness Benefit – allows you to receive a portion of the death benefit early to help cover expenses due to a chronic illness expected to require substantial assistance for the rest of your life
Critical Illness Benefit – allows you to request a lump-sum benefit payment when you have been diagnosed with cancer, stroke, and other critical illnesses
Terminal Illness Rider – allows you to receive some of the death benefit when you are diagnosed with a terminal illness resulting in a life expectancy of 12 months or less
Death benefit and other riders
Accidental Death Benefit Rider – provides additional coverage in the case of a death due to an accident
Children’s Insurance Rider – provides term coverage for all your children, including those who are born after you’ve elected the rider
Overloan Lapse Protection Rider II – helps to protect policies that make extensive use of loans from lapsing2
Waiver of Monthly Deductions Rider – if you should become disabled, this optional benefit waives all monthly deductions
Waiver of Premium Rider – if you should become disabled, this optional benefit credits a monthly premium to your policy
1 The Long-Term Care Rider II is available at an additional charge. While bills and receipts do not need to be submitted each month to receive monthly LTC benefit, they may be needed to help establish the claim. Keep in mind that, as an acceleration of the death benefit, the Long-Term Care Rider II payout will reduce both the death benefit and cash surrender values. Make sure life insurance needs will be met, even if the rider pays out in fill. Costs for long-term care var by person, and there is no guarantee the rider will cover all long-term care costs. Nationwide pays long-term care benefits to the policyowner. If the insured is not the policyowner, there is no guarantee that benefits will be used to pay for long-term care. The Long-Term Care Rider may not be available in all states.
2 The Overloan Lapse Protection Rider II is included with the policy. There is no monthly deduction for the rider. However, there is a cost associated with the rider if and when it is invoked.
Guarantees are subject to the claims-paying ability of the issuing insurer. Be sure to choose a product that meets long-term life insurance needs, especially if personal situations change – for example, marriage, birth of a child or job promotion. Weigh the costs of the policy and understand that life insurance has fees and charges that vary with sex health, age and tobacco use.
Indexed universal life insurance policies are not stock market investments, do not directly participate in any stock or equity investments and do not receive dividends or capital gains participation. Past index performance is no indication of future crediting rates. Also, be aware that interest crediting fluctuations can lead to the need for additional premiums to be paid into your client’s policy.
Life insurance is issued by Nationwide Life and Annuity Insurance Company, Columbus, Ohio.